Chord Energy (NASDAQ:CHRD) Stock Rating Upgraded by Wolfe Research

Chord Energy (NASDAQ:CHRD) was upgraded by investment analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report released on Friday, Marketbeat.com reports. The firm presently has a $155.00 price objective on the stock. Wolfe Research’s target price would indicate a potential upside of 28.15% from the stock’s previous close.

A number of other brokerages also recently weighed in on CHRD. Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Mizuho lowered their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Truist Financial reduced their price objective on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. UBS Group lowered their target price on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Finally, Royal Bank of Canada reduced their price target on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $180.25.

Chord Energy Trading Up 1.7 %

NASDAQ CHRD opened at $120.95 on Friday. The stock has a market cap of $7.39 billion, a PE ratio of 6.23, a PEG ratio of 4.79 and a beta of 0.96. Chord Energy has a 12 month low of $109.59 and a 12 month high of $190.23. The company’s 50-day moving average price is $122.86 and its 200-day moving average price is $140.86. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the company posted $5.04 earnings per share. Chord Energy’s quarterly revenue was up 33.4% compared to the same quarter last year. Equities research analysts forecast that Chord Energy will post 16.5 earnings per share for the current year.

Insider Activity

In other news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the sale, the chief accounting officer now owns 19,488 shares in the company, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CHRD. Rhumbline Advisers raised its holdings in shares of Chord Energy by 24.1% during the second quarter. Rhumbline Advisers now owns 169,663 shares of the company’s stock valued at $28,449,000 after acquiring an additional 32,995 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in Chord Energy by 26.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 12,896 shares of the company’s stock valued at $2,162,000 after purchasing an additional 2,700 shares during the last quarter. TD Asset Management Inc lifted its holdings in Chord Energy by 101.4% in the 2nd quarter. TD Asset Management Inc now owns 10,070 shares of the company’s stock valued at $1,689,000 after purchasing an additional 5,070 shares in the last quarter. Foster & Motley Inc. boosted its stake in Chord Energy by 80.4% during the 2nd quarter. Foster & Motley Inc. now owns 4,249 shares of the company’s stock worth $712,000 after purchasing an additional 1,894 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of Chord Energy by 5,164.0% during the second quarter. National Bank of Canada FI now owns 7,896 shares of the company’s stock worth $1,333,000 after buying an additional 7,746 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

About Chord Energy

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.